I ended up taking a loss on UGAZ, erroneously allowing it to quickly morph from a winning into a losing position.
Here was my note to 12631 members just now:
Sold $UGAZ starter long @ $25.10 from $26.01 entry for a loss. Poor trade letting the winner turn into a loser quickly. Overall natural gas weekly chart bullish setup still intact but should have traded the volatility better.
And here is the updated UNG weekly chart, still intact for a bullish coil.
However, I should have sold at least some into strength last Friday and sought a reentry this week.
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Hindsight is a psyche killer. Been there a lot! But what signs were there that would have instilled in you enough caution to sell all or part of your position? Failure to break out of the pattern? Novice minds would like to know.
High beta nature of the instrument, into a weekend, up several days in a row, etc…
Thanks! This old dog is trying to learn new tricks.
Thoughts on $GIL here?
Nice chart. $56 trigger.